COCOBOD Dismisses Reports Of $1.5BN Loan Rejection By International Banks
The Ghana Cocoa Board (COCOBOD) has categorically denied reports that international banks have rejected its request for a $1.5 billion loan.
According to COCOBOD, the reports circulating in the media are "completely false and misleading" and are causing unnecessary panic in the cocoa industry.
The loan in question is part of COCOBOD's annual syndicated loan facility, which is used to finance cocoa purchases and other operations.
COCOBOD has assured stakeholders that negotiations with international banks are ongoing and that the loan facility is expected to be secured soon.
The denial comes after reports emerged that international banks had rejected COCOBOD's loan request due to concerns over Ghana's debt sustainability and economic stability.
COCOBOD has reiterated its commitment to ensuring a smooth cocoa season and has urged stakeholders to disregard the false reports.
Sign up for the 3Music Newsletter for breaking news, events, and unique stories.
MORE FROM
fashion & lifestyle
-
music entertainment culture
Macklemore Cancels His Dubai Show in Reaction to the UAE’s Alleged Involvement in the Sudan War
By Jephthah Nana Adjei Osei - Mensah
September 27th, 2024
-
music entertainment culture
Exploring the Creative Artistry of Asap Rocky’s Tailor Swif Music Video and His Upcoming Album, Don’t Be Dumb
By Jephthah Nana Adjei Osei - Mensah
September 5th, 2024
-
culture
Air Pollution Cuts Global Life Expectancy; Ghana and Africa Hit Hardest, AQLI Reports
By Jephthah Nana Adjei Osei - Mensah
September 5th, 2024
-
sports
Olympic Runner Rebecca Cheptegei Dies After Brutal Attack by Ex-Boyfriend
By Jephthah Nana Adjei Osei - Mensah
September 5th, 2024
-
culture
Burkina Faso Drops ECOWAS Logo from New Passports, Solidifying Withdrawal from Regional Bloc
By Jephthah Nana Adjei Osei - Mensah
September 5th, 2024
More From 3Music News
music | entertainment | culture | BY Jephthah Nana Adjei Osei - Mensah | September 5th, 2024
Black Sherif Becomes The First Ghanaian Artiste to Reach 500 Million Streams on Boomplay
Black Sherif’s achievement of becoming the first Ghanaian artiste to reach 500 million streams on Boomplay is a monumental milestone that underscores his meteoric rise in the music industry.
sports | culture | BY Jephthah Nana Adjei Osei - Mensah | September 5th, 2024
The 2024 Men’s Ballon d’or Nominees List Drops
Men’s Ballon d’Or nominees list is packed with talent, showcasing some of the best footballers from across the globe.
music | entertainment | culture | BY Jephthah Nana Adjei Osei - Mensah | September 4th, 2024
Five of the Marley Brothers Set to Have Legacy Tour and Perform Together Again After Two Decades
The Marley Brothers, Ziggy, Stephen, Damian, Julian, and Ky-Mani Marley are set to reunite for the Legacy Tour, performing together for the first time in over two decades.
music | entertainment | culture | BY Jephthah Nana Adjei Osei - Mensah | September 4th, 2024
The Art of Patience: Super Jazz Club’s Approach to Creating Timeless Music
In a world where the pressure to constantly release new music can overwhelm artistes, Super Jazz Club has taken a refreshingly different approach.
music | entertainment | culture | BY Jephthah Nana Adjei Osei - Mensah | September 4th, 2024
Alternative Music in Ghana: The Rise of Super Jazz Club and the Future of the Genre
During their insightful conversation with Jay Foley on 3Music TV’s Big Conversation, the members of Super Jazz Club discussed the rising prominence of Alternative music in Ghana and its growing acceptance on the global stage.
music | entertainment | culture | BY Jephthah Nana Adjei Osei - Mensah | September 4th, 2024
Super Jazz Club: Global Journeys and the Power of Music to Break Boundaries
In a compelling conversation on 3Music TV’s Big Conversation with host Jay Foley, the Ghanaian collective Super Jazz Club shared their remarkable musical journey across continents. Starting from humble beginnings in their home studios, this collective has managed to create a sound that resonates globally.
music | entertainment | culture | BY Jephthah Nana Adjei Osei - Mensah | September 4th, 2024
Celebrating Drummers and Their Influence in Music
Joey, the drummer of Super Jazz Club, offered insights into the unique contributions drummers make, not only within the group but to music as a whole.
music | entertainment | culture | BY Jephthah Nana Adjei Osei - Mensah | September 4th, 2024
Breaking Barriers: Women in Ghana's Male-Dominated Music Industry
Seyyoh shares her experience of being part of a collective dominated by male counterparts.
music | entertainment | fashion & lifestyle | culture | BY Jephthah Nana Adjei Osei - Mensah | September 4th, 2024
The Power of Friendship and Creativity - The Origins of Super Jazz Club
During an engaging conversation on 3Music TV’s Big Conversation with Jay Foley, the members of Super Jazz Club opened up about their formation and the meaning behind their distinctive name.
culture | BY Jephthah Nana Adjei Osei - Mensah | September 4th, 2024
DR Congo Set to Receive First Mpox Vaccine Doses Amid Ongoing Outbreak
The Democratic Republic of Congo (DRC) is poised to receive its first shipment of mpox vaccine doses on Thursday, a critical step in combating the ongoing outbreak that has drawn international attention.
culture | BY Jephthah Nana Adjei Osei - Mensah | September 4th, 2024
Fido Secures $30 Million Series B Funding to Expand Digital Lending Across Africa
In a significant boost for the fintech landscape in Africa, Ghanaian digital lender Fido has successfully raised $30 million in a Series B funding round, attracting investment from global impact investment manager BlueOrchard and the Dutch entrepreneurial development bank FMO.
music | entertainment | BY Jephthah Nana Adjei Osei - Mensah | September 4th, 2024
Telegram Apologizes for Deepfake Porn Handling Amid South Korea’s Digital Sex Crime Crisis
In a significant response to a growing digital sex crime epidemic, Telegram has issued an apology to South Korean authorities for its role in the dissemination of deepfake pornographic material through its messaging platform.
Comments